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Day: March 17, 2020
March 172020
Euro Falls to New Lows as Foreign Demand for US Dollars Skyrockets
The euro today fell against the much stronger US dollar amid a global rush for the world’s sole reserve currency as the world grapples with the coronavirus pandemic. The EUR/USD currency pair’s decline was further fueled by weak data from Germany and the euro area as European countries fight to contain rising coronavirus cases. The EUR/USD currency pair today fell from an initial high of 1.1189 to a low of 1.0955 in the American session and was trading […]
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March 172020
Japanese Yen Mixed on Tepid Data, Bearish Business Confidence
The Japanese yen is trading mixed on foreign exchange markets on Tuesday as recent economic data pointed to tepid conditions, diminishing overall business confidence. With the coronavirus crippling the worldâs third-largest economy, policymakers are discussing a lot of ways to spur growth, including targeting the national sales tax. According to the Cabinet Office, machinery orders rose 2.6% in January, up from the 11.9% decline in December. Analysts had projected a decrease of 1.6%. […]
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March 172020
AUD Extends Drop After RBA Policy Minutes, Poor Economic Data
The Australian dollar attempted to rally today after the release of monetary policy minutes from the Australian central bank and domestic macroeconomic data but failed and continued its crash to new multi-year lows. The outlook for another interest rate cut was not helping the Aussie either. The Reserve Bank of Australia released minutes of its March 3 monetary policy minutes, at which Australian policymakers decided to cut the main interest rate by 25 […]
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March 172020
Support of 1.6986 Still Holds on GBP/CAD
The Great Britain pound versus the Canadian dollar currency pair respects some very important lines. But which are the new perspectives concerning the old lines? Long-term perspective The ascending movement that started after the major support area of 1.5336 was confirmed extended almost to the 1.8103 level, retracing shortly after, thus rendering the piercing of the long-time resistance area of 1.7811 as a false one. The retracement became a plunge that pierced […]
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